Financial Sector Update for 09/20/2022: KKR, AIG, HLNE, XLF, FAS, FAZ

Financial stocks were leaning lower pre-bell Tuesday with the Select Financial Sector SPDR (XLF) declining by 0.7% recently. The Direxion Daily Financial Bull 3X shares (FAS) were down more than 2% and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) were over 2% higher.

KKR (KKR) and the Hero Group have agreed to invest $450 million in the latter's renewable energy arm, Hero Future Energies, the companies said. KKR was over 3% lower recently.

American International Group (AIG) said it closed the initial public offering of its life insurance and retirement division Corebridge Financial and received gross proceeds of about $1.7 billion. American International Group was recently unchanged.

Hamilton Lane (HLNE) said it made a strategic investment in Singapore-based digital wealth management platform StashAway, as part of its expansion in Southeast Asia. Financial terms of the investment weren't disclosed. Hamilton Lane was inactive recently.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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